Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) Trading Up 3.2% – Should You Buy?

Shares of Direxion Daily FTSE China Bear 3X Shares (NYSEARCA:YANG) were up 3.2% on Thursday . The stock traded as high as $29.90 and last traded at $28.91. Approximately 1,448,229 shares were traded during trading, an increase of 16% from the average daily volume of 1,243,931 shares. The stock had previously closed at $28.02.

Direxion Daily FTSE China Bear 3X Shares Trading Up 3.2%

The firm has a fifty day moving average of $28.13 and a 200-day moving average of $25.47.

Institutional Trading of Direxion Daily FTSE China Bear 3X Shares

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Group One Trading LLC raised its stake in Direxion Daily FTSE China Bear 3X Shares by 99.2% in the second quarter. Group One Trading LLC now owns 286,742 shares of the company’s stock valued at $8,786,000 after buying an additional 142,827 shares during the period. Renaissance Technologies LLC raised its stake in Direxion Daily FTSE China Bear 3X Shares by 181.9% in the first quarter. Renaissance Technologies LLC now owns 54,400 shares of the company’s stock valued at $1,585,000 after buying an additional 35,100 shares during the period. Jump Financial LLC bought a new stake in Direxion Daily FTSE China Bear 3X Shares in the fourth quarter valued at approximately $612,000. Quadrature Capital Ltd bought a new stake in Direxion Daily FTSE China Bear 3X Shares in the fourth quarter valued at approximately $513,000. Finally, IMC Chicago LLC bought a new stake in Direxion Daily FTSE China Bear 3X Shares in the fourth quarter valued at approximately $302,000.

About Direxion Daily FTSE China Bear 3X Shares

Direxion Daily China Bear 3x Shares (the Fund) seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the BNY China Select ADR Index (the China Index). The China Index is a free float-adjusted capitalization-weighted index designed by the Bank of New York to track the performance of a basket of companies who have their primary equity listing on a stock exchange in China and which also have depositary receipts that trade on a United States exchange or on the National Association of Securities and Dealers Automated Quotation.